Vietnamese hotel operator Huong Giang Tourism Co plans to raise around $4 million from an auction of 5.68 million shares, or nearly 25% of the company, next month.
The firm, which operates several major hotels in the central tourist city of Hue, said in a statement on Monday it had set a starting price for bidding at 10,700 dong ($0.66) a share for the auction on July 18.
The state will keep nearly 62% of the company and around 7.6% would be sold to its strategic parners.
The firm forecast its net profit next year to jump nearly 50% from 2007 to 25 billion dong ($1.6 million) on the back of expected higher foreign tourist arrivals in Hue.
Source: Reuters
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